For various applications such as in the mining, milling and manuring industries there is a need for an alloy characterized by a combination of high wear resistance and good corrosion resistance. Examples of products made from alloys of this type include slurry pump parts, valve components, ore and coal handling equipment, wear plates, mill liners and pulp grinders. Alloys of this type also find use in screw-feed mechanisms and the barrels used in the extrusion of abrasive glass-reinforced plastics.
With alloys of this type, it is desired to have a high content of a wear resistant phase, such as a carbide phase. Although various carbide phases are known to impart the required wear resistance, they provide the disadvantage of poor formability or fabricability with respect to operations of this type, particularly with respect to machining. Generally, the higher the carbide content, the larger will be the carbide size and thus the poorer will be the fabricating capabilities of the alloy. The corrosion resistance of alloys of this type is generally poor as a result of the absence of elements in the steel matrix for this purpose.